SciSparc Stock Soared 61% Today – Here’s An Important Update

SciSparc’s (SPRC) shares soared over 61% on Thursday after the company announced its plans to launch an initiative to advance 3D protein modeling using quantum computing technology.

SciSparc will form a dedicated research team to integrate quantum computing algorithms into 3D protein modeling to create new intellectual property. Initial efforts will focus on refining quantum algorithms to simulate protein dynamics and binding interactions, with the goal of targeting applications in drug discovery for neurological and rare diseases. SciSparc also said that it expects to incorporate a new wholly owned Israeli subsidiary, which will operate the initiative.

The firm explained that knowing a protein’s three-dimensional structure is key to understanding how it interacts in the body and how to design effective drugs. Scientists typically use computers to predict the 3D structure. However, the process has its challenges, including the dynamic nature of proteins, which involves constantly shifting between different conformations, SciSparc said.

Quantum computing may simulate the energy dynamics of proteins with greater precision, capturing their complex movements and interactions with potential drugs with much higher accuracy, the company said. The firm expressed optimism that this may pave the way for breakthroughs in structural biology and personalized medicine.

On Stocktwits, retail sentiment around SPRC stock jumped from ‘bearish’ to ‘extremely bullish’ territory over the past 24 hours, while message volume rose from ‘high’ to ‘extremely high’ levels.

A Stocktwits user expects the stock to hit $10 by the end of the day.

Late last month, the company said that its shareholders approved its proposed merger with AutoMax Motors, a parallel vehicle importer in Israel. Following the closing of the merger, SciSparc shareholders are expected to hold approximately 50.01% of the combined company’s share capital. However, the merger's closing is subject to approval by the Israeli court.

SPRC stock is down approximately 19% this year and up about 18% over the past 12 months. 

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